OraSure Technologies (NASDAQ:OSUR) Stock Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• OraSure stock crossed above its 200-day moving average, trading as high as $3.08 and last at $3.06 versus a 200-day MA of $2.77 on volume of 304,439 shares.
• Analyst and fundamental backdrop is weak: the consensus rating is "Reduce" with a $3.00 target (Weiss Ratings reiterated a sell), and the company reported a Q that missed EPS estimates and shows negative margins and profitability.
• Insiders bought shares: the CEO and CFO each purchased 32,300 shares at about $2.93 on March 20, and insiders have bought 108,643 shares in the past 90 days, while insiders own roughly 3.9% of the stock.

OraSure Technologies, Inc. (NASDAQ:OSUR - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.77 and traded as high as $3.08. OraSure Technologies shares last traded at $3.06, with a volume of 304,439 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "sell (d)" rating on shares of OraSure Technologies in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $3.00.

OraSure Technologies Stock Down 0.6%

The firm has a market capitalization of $211.54 million, a price-to-earnings ratio of -3.29 and a beta of 0.85. The business's 50-day simple moving average is $2.94 and its two-hundred day simple moving average is $2.77.

OraSure Technologies (NASDAQ:OSUR - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The medical instruments supplier reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.02). OraSure Technologies had a negative net margin of 59.76% and a negative return on equity of 16.45%. The company had revenue of $26.76 million for the quarter, compared to analyst estimates of $26.44 million. Sell-side analysts anticipate that OraSure Technologies, Inc. will post -0.08 earnings per share for the current year.

Insider Buying and Selling

In other OraSure Technologies news, CFO Kenneth J. Mcgrath acquired 32,300 shares of the company's stock in a transaction that occurred on Friday, March 20th. The stock was purchased at an average price of $2.93 per share, for a total transaction of $94,639.00. Following the completion of the acquisition, the chief financial officer owned 589,562 shares of the company's stock, valued at approximately $1,727,416.66. This trade represents a 5.80% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Manner Carrie Eglinton acquired 32,300 shares of the company's stock in a transaction that occurred on Friday, March 20th. The stock was acquired at an average price of $2.93 per share, with a total value of $94,639.00. Following the acquisition, the chief executive officer directly owned 2,190,874 shares of the company's stock, valued at approximately $6,419,260.82. This represents a 1.50% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 108,643 shares of company stock valued at $321,407 in the last 90 days. Company insiders own 3.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Prudential Financial Inc. acquired a new position in shares of OraSure Technologies in the second quarter valued at approximately $31,000. Quadrature Capital Ltd acquired a new position in shares of OraSure Technologies in the fourth quarter valued at approximately $28,000. L2 Asset Management LLC acquired a new position in shares of OraSure Technologies in the second quarter valued at approximately $39,000. Amundi acquired a new position in shares of OraSure Technologies in the first quarter valued at approximately $47,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of OraSure Technologies by 102.2% in the third quarter. BNP Paribas Financial Markets now owns 15,275 shares of the medical instruments supplier's stock valued at $49,000 after purchasing an additional 7,720 shares in the last quarter. Institutional investors and hedge funds own 93.50% of the company's stock.

About OraSure Technologies

OraSure Technologies, Inc is a Bethlehem, Pennsylvania–based diagnostic and medical device company specializing in the development, manufacture and commercialization of point-of-care and self-testing products. Founded in 1988, OraSure has built a portfolio of oral fluid and other non-invasive specimen collection technologies that support the detection of infectious diseases, drugs of abuse, and health and wellness biomarkers.

The company's flagship product, the OraQuick® rapid HIV test, was the first Food and Drug Administration–approved over-the-counter oral fluid test for the detection of HIV-1/2 antibodies.

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